CommBank Ultimate Awards Credit Card Review for Aussies, Earn Qantas Points Overseas with No Foreign Transaction Fees and a Waivable Monthly Fee

Card overview for Aussies

The CommBank Ultimate Awards Credit Card is built for Australians who want Qantas Points without the usual overseas penalty fees. With no foreign transaction fees and a focus on travel rewards, this card makes it easier for Aussies to earn points on international spend.

It’s straightforward to use as your go-to travel card or as the everyday card for big-ticket purchases. The CommBank Ultimate Awards Credit Card name is front and centre when you want to rack up Qantas Points while avoiding extra charges abroad.

Earn rates and where points come from

The card pays 1.2 Qantas Points per $1 on eligible international transactions, which is a strong rate for travellers. Domestically you’ll get 0.8 Qantas Points per $1 at major supermarkets, department stores and petrol stations, and 0.4 Qantas Points per $1 on other eligible purchases.

There’s a points cap after $10,000 in a statement period for the higher domestic earn rates, so plan larger spends with that in mind. Keeping the CommBank Ultimate Awards Credit Card as your international-spend card is a quick way to accelerate your Qantas Points balance.

Fees, interest and the waivable monthly fee

The CommBank Ultimate Awards Credit Card does come with fees to weigh up: the Qantas Points option carries a $60 annual fee, and there’s a monthly fee that can be fully waived. Spend $4,000 in a statement period and the monthly fee is waived, which makes the card much more cost-effective for regular spenders.

Be aware of the purchase interest rate of around 20.99% p.a. if you carry a balance – paying in full each month is essential to keep rewards worthwhile. Comparing expected Qantas Points earnings against fees will show whether the CommBank Ultimate Awards Credit Card is the right fit for your budget and travel goals.

Travel perks, insurance and who should apply

The card includes international travel insurance, purchase security and extended warranty benefits which add real value for frequent travellers. These protections reduce the need for separate policies and make the CommBank Ultimate Awards Credit Card a sensible choice for overseas trips or high-value purchases.

If you travel regularly, shop from overseas retailers or want to earn Qantas Points fast, this card is a strong contender in Australia’s rewards market. Check eligibility, estimate your annual spend and consider switching your overseas transactions to this card to maximise Qantas Points while avoiding foreign transaction fees.